Aquaculture services and equipment provider AKVA Group ASA has signed an engineering and design contract for a new land-based grow-out facility with Swedish company Premium Svensk Lax (PSL).
PSL has been granted permission to produce 10,000 metric tons (MT) of Atlantic salmon on land by Swedish authorities. The farm will incorporate AKVA's Zero Water Change RAS technology.
It will be the country’s first land-based salmon farming project.
In a statement, AKVA confirmed it had been chosen as PSL’s preferred supplier, and that the final delivery contract, if awarded, has a value of approximately EUR 95 million (USD 112.4 million).
AKVA’s equity participation in the project up to NOK 30 million (USD 3.3 million, EUR 2.8 million) is subject to PSL obtaining the necessary financing for the project and agreement on a final delivery contract.
Earlier this month, AKVA secured a similar contract from Norwegian salmon producer Ecofisk AS, while in September, it signed a design and cooperation agreement with Dubai- and Norway-based Vikings Label for some land-based salmon farms in the Middle East.
